Sep 27, 2012 6:00am EDT
this economy is enacting extreme austerity, and this debate is relevant whether it's obama or romney. is austerity actually denting growth, is it creating more problems than it solves. let me give you one example. we have a sales tax in this country that has been raised from 16% to 18% to 21%. that has created a slight inflation issue. now, pensions are inflation linked. and this country in november has to increase pension abouts by inflation. so by raising 2.5 billion euro v.a.t., it will cost them 3.5 billion euro misincreased pension costs. so you can see the conundrum. they're enacting enormous amounts of austerity, but that's denting an economy which is already in recession. its second since 2008. and things are getting worse. 25% unemployment, a million up sold homes. and we haven't even talked about the banking crisis and the autonomous region, some of which including catalonia are looking trying to get some form of assembly. it is a toxic mix. >> imagine that there will be pressure on markets as this they think unfolds. we're also counting down to the wire here of course in t
Sep 26, 2012 6:00am EDT
. but pointless, really. going to lose to the reds one way or another. >>> both president obama and mitt romney will be in ohio today. the story behind that swing state. >>> welcome back. take a look and you'll see that the dow futures are slightly higher. s&p futures up by close to two and a half. this comes after the market ended on its weakest levels of the day yesterday. yesterday was the worst day for the month of september for the dow. it was the worst day in two months for the nasdaq and it was the worst day in three months for the s&p 500. all of that kind of playing out overseas as well. in europe this morning, you are going to see some red arrows. a lot of concern about what's happening as protests pick up in spain, and you see more concerns coming in greece right now about austerity measures. the german dax is down by about 1.5%. the nikkei in japan was down by 2%. >>> in "sporting news," the atlanta braves are on their way to the postseason in. the boft the ninth against the marlins last night, freddy freeman connected and takes it to straight center for a walk-off homer. exciting.